So if you've ever seen a 120Hz TV at a store you'll notice that films on them (films are 24fps) will look very smooth to the point that is resembles a soap opera. So I assume a 120Hz monitor will have this same feature. Can it be disabled? I don't think I will ever leave a 60Hz monitor if movies are forced to look like that.

feel free to include any other details or subjects regarding fps and movies that might clear this up

That TV isn't using true 120Hz it actually gets 24 fps delivered then uses those to make blends or doubles to add up to 120.
It is called motion interpolation.
A true 120Hz monitor won't have it and every TV should have the setting to turn it off for my TV which is 120Hz and has the feature it is called MEMC

True 120Hz is actually exactly the oposite of that interpolation garbage where interpolation increases the time between new true info true 120Hz actually makes it faster with 5x as much true frames per second.Edited by maarten12100 - 7/30/13 at 4:57pm